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Quantitative Problem: You need $17,000 to purchase a used car. Your wealthy uncle is willing to lend you the money as an amortized for. He

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Quantitative Problem: You need $17,000 to purchase a used car. Your wealthy uncle is willing to lend you the money as an amortized for. He would like you to make annual payments for 6 years, with the first payment to be made one year from today. He requires a 9 annual return. Do not round Intermediate calculations, Round your answers to the nearest cent. a. What will be your annual loan payments? $ b. How much of your first payment will be applied to interest and to principal repayment? Interest: $ Principal repayment: $

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